How to Forecast Data with TIBCO Spotfire

It's easier than you think! Start forecasting in less than an hour.

Predict the future

Forecasting oil & gas production

Engineers and technicians forecast production to plan for the future, budget revenue, inform partners and investors, estimate reserves, plan for new wells... and the list goes on. 

Most of this is painstakingly done in static Excel spreadsheets. These are slow to update, tough to iterate on, and the results are not interactive or easy to share with others.

Production forecasting is an important part of your job, but it doesn't have to be a time consuming part!

Take advantage of Spotfire's interactive, user-friendly features to quickly create, visualize, and adjust forecasts on the fly!

See it in action

Check out the demo

This video shows forecast model in action - the exact same forecasting model you'll build in this training.  See how you can adjust the Arps decline curve parameters such as the initial production rate, decline rate, and b-factor.

What you'll learn

After completing this training, you'll be able to:

>> Quickly generate forecasts by modifying custom-built input parameters

>> Write simple but powerful TERR scripts

>> Setup and execute Data Functions

>> Create and adjust Property Controls

>> Insert Calculated Columns

>> Export forecast data for external reporting or analysis

>> Understand how this works "under the hood"

>> Fix the model when something breaks

>> Tweak and customize it for your exact needs

>> Apply the concepts you've learned to create other analytic tools

>> Increase your Spotfire knowledge

>> Impress your boss and colleagues

Save yourself some time

(and frustration)

I’ve spent the time building this Spotfire model, re-working it, and making sure it can be built quickly and intuitively. Take advantage of the time I’ve spent, and let me show you a fast, simple way to setup a forecast model in Spotfire.

It takes less than an hour to go through this training. Do yourself a favor: skip the tinkering and learn it today!

Curriculum

Introduction

  • Welcome! FREE PREVIEW
  • Training Downloads

Module 1: Setting up the Data

05:13

  • 1.1 Visualizing Production History
  • 1.2 Normalize the Data
  • 1.3 Explanation of the Forecast Equation (Decline Curve Analysis) FREE PREVIEW

Module 2: Building the Forecast Model

20:46

  • 2.1 Creating Custom Input Panel with HTML FREE PREVIEW
  • 2.2 Creating Property Controls
  • 2.3 Fitting a Curve to Historical Data
  • 2.4 Using TERR and a Data Function to Create a New Table
  • 2.5 Verifying Data Function Output
  • 2.6 Automating the Data Function
  • 2.7 Forecasting Future Values with the Model
  • 2.8 Inserting Calculated Column: Fit or Forecast Values

Module 3: Forecasting Data with the Model

02:35

  • 3.1 Visualize Forecast Results on the Fly
  • 3.2 Curve Fitting and Forecasting Data

Module 4: Exporting and Working with Forecast Results

11:10

  • 4.1 Exporting the Forecast Values
  • 4.2 Combining Multiple Forecasts
  • 4.3 Visualizing the Combined Forecast Results
  • 4.4 Linking Filters from 2 Data Tables

Module 5: Updating and Changing the Model

11:55

  • 5.1 Updating the Model with New Input Parameters
  • 5.2 Updating the Data Function to include Decline Parameters
  • 5.3 Exporting Results from the Updated Model
  • 5.4 Summarizing the Decline Curve Parameters for each Well

Summary

  • Summary

About Your Instructor

Kyle LaMotta

Kyle LaMotta

Spotfire Pro

Kyle LaMotta has 9 years of oil & gas engineering experience, including 7 years with a large oil and gas company and 2 years starting and running his own business. He specializes in industry-specific Spotfire training and consulting. Kyle has a BS in Mechanical Engineering and an MBA.

kyle@datafuelresources.com

What's Included

Instant access to training videos

Spotfire templates: starting & ending

Sample dataset

Email support

Lifetime access

7 day money back guarantee

Pricing

$97.00 Instant Access Enroll Now
Single Payment

Still not sure?

Try the free trial

No problem, I understand you want to try before you buy. Sign up for the free trial (no credit card required) and check out a few of the videos. Here's what's included in the free trial:

  • Course Introduction
  • 1.3 Explanation of the Forecast Equation (Decline Curve Analysis)
  • 2.1 Creating Custom Input Panel with HTML

Bonus Material

PDF

Workflow Outline

Handy reference guide outlining the steps to create a forecast model in Spotfire.

Let's get started!

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